Comments on: Who Pays Taxes: Top 1% Pay More than Bottom 95%

By: Wizard Prang

Wizard Prang — Thu, 29 Sep 2011 20:51:59 +0000

>> The rich can afford to pay more because they have more. <<

They can also afford to leave…

By: The Huffington Post: 99.33% of Millionaires Pay Income Taxes

The Huffington Post: 99.33% of Millionaires Pay Income Taxes — Sat, 06 Aug 2011 16:11:45 +0000

[...] Who Pays Taxes: Top 1% Pay More than Bottom 95% [...]

By: Kevin Grail

Kevin Grail — Tue, 19 Jul 2011 17:07:01 +0000

Jason and Mike, you both make good points. Tax rates were higher years ago, even adjusted for inflation. The rich and powerful make the rules and over the years have increasingly benefited greatly from our economic system.

Our system over-rewards the few while the many languish. Are the super-rich really working so much harder than the poor? Are they really so much smarter? I don’t think so.

The rich can afford to pay more because they have more.

By: Mike Selfridge

Mike Selfridge — Sun, 12 Jun 2011 06:21:02 +0000

Jason Trask, that is where I think you are wrong in your $250k comparison to the Eisenhower era. You mix the facts, though you sound clear in thought – but are you wrong? Help me understand here. Sure, the top earners during Eisenhower presidency paid a marginal tax rate of 91%. In 1954, the marginal tax rate on those who made plus $250k was 91%, and that dropped to 89% in 1956 for that specific tax bracket. But what about the time value of money? In today’s dollars (assuming an average inflation rate of 3% inflation, compounded annually, over 61 years ), that $250k in annual income is actually $1.5 million in today’s dollars (2011). The same $250k you are using today in comparison to the Eisenhower era was the equivalent of making $41k back then. And during Eisenhower’s term, the marginal tax rate for $41k in 1956 (just to pick a year during his term) was just 38% (dropped from 56% when he took office). So help me understand your point? Are you comparing apples to apples, or are you just caught up in political rhetoric of the past?

By: Jason Trask

Jason Trask — Sat, 14 May 2011 16:18:08 +0000

Obviously the top 1% are going to pay more in taxes than the bottom 99%. They own most of the money. And the reason that the amount that they’re paying has increased since 1987 is that back then, the wealth in this country was more equitably distributed. During the past 15 years or so money has trickled up from the middle class to the top 10% of earners. You say that the amount that’s paid in taxes is at an all time high for the top 1%. But that’s not true regarding percentages paid in taxes by that group. For instance, when Eisenhower was president, the top earners paid 91% in income taxes (okay, look it up if you don’t believe me) and during Reagan’s first 6 years, they paid 50%. The tax rates for the wealthy are at an all time low right now and you have the temerity to complain about the fact that Obama may raise taxes on folks earning over $250,000 per year. You’re killing me.

By: The Richest 10% Pay 71% of Federal Income Taxes

The Richest 10% Pay 71% of Federal Income Taxes — Sun, 05 Sep 2010 15:22:28 +0000

[...] Who Pays Taxes: Top 1% Pay More Than Bottom 95% [...]

By: More Statistics Showing that the Rich Pay Bulk of U.S. Taxes

More Statistics Showing that the Rich Pay Bulk of U.S. Taxes — Mon, 21 Jun 2010 13:41:34 +0000

[...] Who Pays Taxes: Top 1% Pay More Than Bottom 95% [...]

By: Obama on Taxes

Obama on Taxes — Thu, 28 Jan 2010 05:31:25 +0000

[...] Who Pays Taxes? Top 1% Pay More than Bottom 95% [...]

By: Oregon’s Original Revenue Raising Idea: Tax the Rich

Oregon’s Original Revenue Raising Idea: Tax the Rich — Sun, 24 Jan 2010 14:59:44 +0000

[...] Who Pays Taxes? Top 1% Pay More than Bottom 95% Bookmark & Share: [...]

By: Deadline EXTENDED: I will be using Obama Bucks to by my 1st house!!! - Page 3 - Political Forum

Fri, 06 Nov 2009 04:11:48 +0000

[...] The top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act. Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago. To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined. http://blog.pappastax.com/index.php/…han-bottom-95/ [...]

By: Obama Will Raise Taxes on Middle Class, Financial Times Says

Obama Will Raise Taxes on Middle Class, Financial Times Says — Tue, 11 Aug 2009 04:17:26 +0000

[...] [...]

By: Obama Will Raise Taxes on Middle Class, Financial Times Says

Obama Will Raise Taxes on Middle Class, Financial Times Says — Tue, 11 Aug 2009 04:17:26 +0000

[...] [...]

By: Tax Overhaul Needed Says Brookings Institute

Tax Overhaul Needed Says Brookings Institute — Mon, 10 Aug 2009 04:36:24 +0000

[...] Who Pays Taxes: Top 1% Pay More Than Bottom 95% [...]

By: Peter

Peter — Thu, 30 Jul 2009 15:00:45 +0000

Tax Club,

Thanks for the comment.

Make no mistake about it, Democrats benefit from the class warfare because there are many more non-rich people than there are rich people.

It’s political!

By: The Tax Club

The Tax Club — Thu, 30 Jul 2009 14:18:37 +0000

I agree I feel that by taxing the wealthy more than everyone else causes classes to clash. It leaves plenty of room for controversy and fights. There has to be something else done.